“these results reinforce our confidence in our full-year guidance of mid-single-digit growth in sales, 11% segment operating margin, and double-digit growth in free cash flow per share.”

In context

“edmartin.com and click on the Investor Relations link to view and follow the charts. With that, I will turn the call over to Jim. James Taiclet: Thanks, Maria. Good morning, everyone, and thank you for joining us on our first quarter 2025 earnings call. You saw in the press release this morning, Lockheed Martin Corporation delivered strong all-around performance in the first quarter, continuing the growth momentum we've seen over the last two years. We increased our year-over-year sales 4% in the quarter and generated solid cash and enabled investment of $850 million in independent research and development and capital expenditures. Moreover, we provided a robust shareholder return of $1.5 billion through dividends and share repurchases during the quarter. As Evan will discuss in a moment, these results reinforce our confidence in our full-year guidance of mid-single-digit growth in sales, 11% segment operating margin, and double-digit growth in free cash flow per share. Our strong start in Q1 enables us to mitigate or absorb currently known tariff headwinds, as well as the direct program impacts of the Next Generation Air Dominance program decision. We maintain our original guidance for the full year. With respect to the U.S. Defense budget, we continue to operate under a full year continuing resolution that allows for new awards and the transfer of funds across programs. And we are actively engaged with our customers to provide best-value solutions to them in this process. We're applying this best-value approach also to our customer interactions regarding the 2026 presidential budget request as well. This is especially applicable to the president's high-priority launch of the Golden Dome for America, where we are describing how current Lockheed Martin C”